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Marketing: Managing Profitable Customer Relationships Chapter 1 1 1 Objectives ?Be able to define marketing and discuss its core concepts. ?Be able to define marketing management and pare the five marketing management orientations. 1 2 Objectives ?Understand customer relationship management and strategies. ?Realize the major challenges facing marketers in the new “connected” millennium. 1 3 ? Strong sales, no profits ? Customerdriven to its core ? Each customer’s experience is unique ? Provides great selection, good value, discovery and convenience ? A true online munity Discussion: Will Survive? Case Study 1 4 What is Marketing? ? Marketing is managing profitable customer relationships ? Attracting new customers ? Retaining and growing current customers ? “Marketing” is NOT synonymous with “sales” or “advertising” 1 5 What is Marketing? ?Kotler’s social definition: “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating a